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CDBG Program Office
127 Church Street
Suite 270
Marietta, GA 30060
(770) 528-4600
(770) 528-4613 fax
Community Development Block Grant (CDBG) Program Office
RFP’s for NSP Asset Manager, Appraiser, and Real Estate Attorney have been accepted and are currently under review. Applicants will be notified in writing when a decision has been reached.
“HUD’s new Neighborhood Stabilization Program will provide emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The Neighborhood Stabilization Program (NSP) provides grants to every state and certain local communities to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop these homes in order to stabilize neighborhoods and stem the decline of house values of neighboring homes. The program is authorized under Title III of the Housing and Economic Recovery Act of 2008
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Cobb County will receive $6,889,134 from HUD and $1,693,221 from The Georgia Department of Community Affairs (DCA) to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within the community. These targeted funds will be used to purchase foreclosed homes at a discount and to rehabilitate or redevelop them in order to respond to rising foreclosures and falling home values; as such NSP Grant Funds will be devoted to those areas of Cobb County’s greatest need as determined by the Foreclosure data supplied by the Policy Development and Research Division at HUD.
The NSP Program also seeks to prevent future foreclosures by requiring housing counseling for families receiving homebuyer assistance. In addition, the Program seeks to protect future homebuyers by requiring States and local grantees to ensure that new homebuyers under this program obtain a mortgage loan from a lender who agrees to comply with sound lending practices.